Sonnenblick-Goldman Company Arranges the Sale of the Four Seasons Hotel, Toronto

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. October 14, 2008

NEW YORK, NY, July 14, 2005. Sonnenblick-Goldman Company has arranged the sale of the Four Seasons Hotel, Toronto, on behalf of Maritz, Wolff & Company. The buyer was Kingdom Hotels (Toronto) Ltd, an affiliate of Kingdom Hotels International (Kingdom), an entity controlled by HRH Prince Alwaleed bin Talal bin Abdul Aziz Alsaud (Prince Alwaleed) and his family.

The award-winning Four Seasons Hotel features 380-guestrooms and is the city's finest luxury hotel. Featuring 32 stories and a location in the heart of Toronto's upscale Yorkville district, the hotel's amenities include the acclaimed Truffles restaurant - Toronto's only CAA/AAA Five Diamond Restaurant, a 185-space parking facility and approximately 22,000 square feet of meeting space.

Four Seasons has managed the hotel since May 1, 1978. The hotel's previous owner was Maritz Wolff & Co. "We have enjoyed an excellent relationship with Four Seasons and continue to own other Four Seasons hotels," comments Philip Maritz, President of Maritz Wolff & Co. "We wish Kingdom continued success with this great hotel."

Commenting on the transaction, Sonnenblick-Goldman managing director and principal Mark Gordon states, "The offering appealed to the universe of international hotel investors given the asset quality, location within the Toronto market and Four Seasons management. We are pleased that we were able to structure a transaction that helped achieve the objectives of both the buyer and the seller." Sonnenblick-Goldman senior associate Mark Owens adds, "The rebounding Toronto market and the world-class facilities of the hotel presented an attractive opportunity for the buyer."

Maritz Wolff, & Co. is a leading private real estate investment fund that invests in luxury hotel and resort properties, hotel management companies, and hospitality related assets. Founded in 1994, Maritz, Wolff & Co. has acquired 18 luxury hotels operated by leading luxury hotel management companies, including Four Seasons, Fairmont, Ritz-Carlton, and Rosewood. The portfolio of hospitality assets also includes interest in Fairmont Hotels and Resorts and Rosewood Hotels and Resorts management companies. Maritz, Wolff & Co. has consistently produced attractive investment returns by capitalizing on its principal's extensive industry experience, adhering to strict acquisition criteria, and engaging in active asset management of its portfolio assets.

Kingdom is owned by a trust for the benefit of Prince Alwaleed and his family. Prince Alwaleed, directly or through trusts and other entities for the benefit of himself and his family, has made substantial investments in multiple sectors, including hotels, banking, media, telecommunications, technology, construction and real estate, entertainment, and upscale fashion, among numerous others. In addition to Prince Alwaleed's direct ownership interests in 25 hotels and resorts, he has significant hotel-related investments in three leading international hotel management companies, namely Four Seasons Hotels & Resorts, Fairmont Hotels & Resorts and M"ovenpick Hotels & Resorts, covering almost 300 hotels throughout North America, the Middle East and Africa. Significant investments in other sectors include interests in Citigroup, News Corp., Time Warner, Motorola, Apple Computers, Ballast Nedam, Canary Wharf, Disneyland Paris, Saks Inc. and Kingdom Center.

Sonnenblick-Goldman Company is the industry's leading independent real estate investment banking firm. Founded in 1893, Sonnenblick-Goldman Company provides a full range of financial services including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in Sydney, Hong Kong, San Francisco, and Tokyo and has a representative in Shanghai. Further information can be found at Sonnenblick-Goldman Company's website at www.sonngold.com.